Federal is supporting Xtreme Subsea as its procurement specialist for plugging and abandonment of three subsea oil wells at the Dai Hung field in Block 05-1A in offshore Vietnam.
The DH field spans 260 kilometres wide with water depths up to 110 metres. The DH field uses a Floating Production Unit which is connected to 12 subsea wells and the crude oil is offloaded to a Floating, Storage and Offloading Vessel (FSO).
The procurement service agreement will run for a period of six months starting from this month, with a potential additional variation order value of US$2 million.
Shares in Federal last traded at 21 cents on Apr 3.
